Hyundai plans on setting up second factory in India

Monday 25 August 2014, 09:30 AM by

Hyundai Motors has been a strong brand in the Indian market. In recent times, Hyundai has launched the Grand i10 with a diesel engine and Xcent sedan with interesting features. The company has been planning to investing a major sum for production of about 2-3 new cars every year. To achieve the numbers successfully, the company plans on setting up a second plant in the country.

Hyundai plans on setting up second factory in India | CarTrade.com
Hyundai plans on setting up second factory in India

Hyundai in India, has been facing strong competition from brands like Ford, Honda, Tata and Maruti. B S Seo, Hyundai India MD & CEO said to TOI, “Our existing factory in Chennai still has capacity to keep us going for some time. Production there is currently 6.8 lakh units annually, and this can be stretched to a little over 7 lakh vehicles.” When questioned on plans for second plant in India, he added, “We are looking at it very closely. We are watching very closely.”

The company has not denied the possibility of setting up a plant in Gujarat. Speaking about their decision Seo said, “We are very strong in construction of a new plant.” The investment is likely to go over 1000 crores. The newly launched Xcent has been generating a good amount of sales in the country and the company expects to do well in future too.

Source: TOI

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